Cenovus Energy to lower capital spending in 2016

Dec 10 (Reuters) - Canadian oil producer Cenovus Energy Inc
said it expects to spend between C$1.4 billion ($1.03
billion) and C$1.6 billion in 2016, 19 percent lower than its
estimated budget for this year, in response to a steep decline
in crude prices.

Cenovus said even if Brent crude prices remain in the $40
per barrel range through 2016, company expects to continue to
fund its current dividend level.
($1 = C$1.35 Canadian dollars)
(Reporting by Sneha Banerjee in Bengaluru; Editing by Shounak
Dasgupta)